CRE Summit 2013: performance and prospects

Hotel Crowne Plaza St. Petersburg Airport, a part of MFC AIRPORTCITY St. Petersburg, played host to members and guests of CRE Summit 2013 - significant event for commercial real estate market.

Held from 26 to 27 June 2013, the summit gathered over 300 professional members and 90 experts in the field who participated in discussions, presentations and workshops. Development, investments, management were noted as the most important topics. The participants dwelled upon various commercial properties: trade, industrial and hotel facilities.

First day, the experts focused on the integrated development of the territories, alternative funding, lending, new real estate models, and such novelty as suits.

In the framework of the panel discussion, the summit participants looked upon the ways of perfect interaction between the businesses and the city, and came to an opinion that public & private partnership would offer great opportunities, however insufficiently implemented for the time being.

During discussion of the lending issues, representatives of the banks shared their requirements to the projects for the purpose of funding, and developers - their criteria applied to the banks.

Discussion dedicated to the storage properties identified the prevailing warehouse market trends. For instance, it was noted that high rates and charges had not prevented the customers to establish the warehouses within the capital city, although no acute need existed in view of logistics.

The second day of the summit was also very active. The participants discussed up-to-date marketing problems: advertisement projects, their budget efficiency and assessment methods, successful marketing projects, naming and branding effect on the company’s reputation.

The hotels, being still much-in-demand type of commercial real estate, were discussed very actively. The summit participants particularized construction of experimental models, such as capsule hotels, water-surrounded hotels, etc.

Concluding session and press conference were the agreeable completion of the summit. The participants expressed their common opinion: quality of services at the commercial real estate market continued improving, whereas the requirements to the properties and their prices had been constantly growing. The experts assured that no second wave of crisis would be forecasted for the discussed sector.